Business
Nigeria’s GDP grows 4.43% in Q2’26 — NBS
By Elizabeth Adegbesan
ABUJA — Nigeria’s economy expanded by 4.43 per cent year-on-year in real terms in the second quarter of 2026, Q2’26, up from 4.23 per cent recorded in the corresponding quarter of 2025, the National Bureau of Statistics (NBS) said on Monday.
The latest figure was contained in the NBS Gross Domestic Product (GDP) report for Q2’26.
The bureau said both the oil and non-oil sectors recorded growth during the quarter, expanding by 7.31 per cent and 4.31 per cent year-on-year, respectively.
According to the NBS, the agricultural sector grew by 4.39 per cent in Q2’26, compared with 2.82 per cent in the corresponding quarter of 2025.
The industry sector, however, recorded slower growth at 3.96 per cent, down from 7.46 per cent in Q2’25, while the services sector expanded by 4.60 per cent, up from 3.94 per cent recorded in the same period of 2025.
In terms of contribution to aggregate GDP, the services sector remained dominant, accounting for 56.62 per cent in Q2’26, slightly higher than the 56.53 per cent recorded in Q2’25.
Oil sector
The NBS said Nigeria recorded average daily oil production of 1.72 million barrels per day (mbpd) in Q2’26, up from 1.68 mbpd in Q2’25.
Oil production also increased by 0.17 mbpd from the 1.55 mbpd recorded in Q1’26.
“The real growth of the oil sector was 7.31 per cent year-on-year in Q2’26, indicating a decrease of 13.15 percentage points relative to the rate recorded in the corresponding quarter of 2025 (20.46 per cent),” the bureau said.
It added that oil-sector growth increased by 4.74 percentage points compared with the 2.57 per cent recorded in Q1’26.
On a quarter-on-quarter basis, the oil sector grew by 10.91 per cent in Q2’26.
The sector contributed 4.16 per cent to total real GDP during the quarter, up from 4.05 per cent in Q2’25 and 3.92 per cent in Q1’26.
Non-oil sector
The non-oil sector grew by 4.31 per cent in real terms in Q2’26, representing an increase of 0.67 percentage points from the 3.64 per cent recorded in Q2’25.
The growth was also higher than the 3.94 per cent recorded in Q1’26.
The NBS said the non-oil sector’s performance was driven mainly by agriculture, particularly crop production; information and communication, especially telecommunications; real estate; trade; financial and insurance services; manufacturing, particularly cement; and construction.
In real terms, the non-oil sector contributed 95.84 per cent to total GDP in Q2’26, compared with 95.95 per cent in Q2’25 and 96.08 per cent in Q1’26.
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